Innovations in document management systems (DMS) may not be as prevalent as Apple and Microsoft updates, but business owners who want to increase efficiency and productivity should look into the latest DMS upgrades. Here are some of the latest improvements in DMS software business people are talking about.
The cloud is one of the biggest advances in DMS technology. Instead of installing files on a local device, cloud DMS software is hosted in an offsite server that can be accessed on any device, be it a Windows desktop, iOS tablet, or Android smartphone, through the internet.
Such capabilities allow businesses to achieve a new level of efficiency. For example, a traveling salesperson can make an expense account entry by snapping a photo of a receipt, processing it in their DMS app, and sending it to the finance department for approval, employees can still access work files from any location because they’re not locally stored in the office building.
The best part is, cloud DMS services are offered for a low, fixed monthly fee. Business owners won’t spend money on additional servers or internal IT technicians; instead they’ll pay only for the document management features and storage space they need.
Auto-indexing is enabled by optical character recognition — a technology that converts scanned text into a digital, easily searchable format. Modern DMS software already have some form of auto-indexing, but they still produce errors. In 2019 and beyond, only the best DMS software will feature faster, more accurate auto-indexing features that make it easy to retrieve files from a massive content database.
AI has the potential to disrupt many business technologies, especially DMS software. While auto-indexing features are designed to recognize text in a scanned document, AI can understand and process the document’s information. This may not seem so important when the primary purpose of DMS is to store and retrieve data, but it can have significant implications for businesses.
AI features can learn how documents relate to one another, and group them by topics or a more logical filing system without human intervention. If businesses have multi-step processes like invoicing, which involve routing documents to different departments, AI-enabled workflows can automate the invoicing process and even check people’s work before moving files to the next person.
But the most exciting use for AI in document management is in analytics. AI-powered DMS platforms can examine how records are used, who’s accessing them, and create detailed reports that give business leaders insights on how to improve business processes further.
Cybersecurity is another area where AI is transforming DMS. Today’s AI-enabled security software can detect personally identifiable information and automatically place tighter access restrictions on these documents.
Forward-thinking providers are also equipping their software with AI technologies that flag suspicious activities (e.g., large amounts of files being copied/altered/deleted), which could indicate a security breach. Cutting-edge DMS software are even implementing fingerprint scanning and multi-factor authentication to prevent unauthorized viewing or modification of documents.
DMS software have evolved to integrate multiple applications, including customer relationship management and enterprise resource planning software. These integrations allow documents to flow much more seamlessly between departments. For instance, when customer sign up forms have been processed in the DMS software, the data is also entered into the CRM database so sales staff and customer service reps get all the information they need to communicate effectively with the client.
In fact, the most advanced DMS software are already capable of integrating with a wide variety of applications such as donor management systems, business process automation tools, and cloud productivity software to offer even greater efficiency.
Although these may be subtle changes, the important thing to remember is DMS software is constantly improving and making business owners’ and employees’ lives easier. If your business needs a state-of-the-art document management solution, why not consider PaperSave? Sign up today for a free demo to experience cutting-edge features.